PITTSBURGH, PA, Nov 2, 2023 – Ansys announced financial results for the third quarter of 2023. Revenue for the third quarter of 2023 was $458.8M, 7.6% down compared to $496.6M for the second quarter of 2023. GAAP net income was $55.5M.
Comparative analysis based on Ansys’s financial results in the last 12 quarters (Result source Ansys website)
Comparative analysis based on Ansys’s financial results in the last 12 quarters (Result source Ansys website)
“Ansys continues to see robust, broad-based demand for our technology and products. We were tracking to deliver on our third quarter guidance commitments when we were notified by the U.S. Department of Commerce of incremental export restrictions and enhanced approval processes for certain products and services. This disrupted our business in the quarter by adding restrictions on sales to certain Chinese entities and elongating the transaction cycle for certain prospects. Despite these developments, Ansys delivered a strong quarter, marked by double-digit growth in ACV. Given the critical role that Ansys solutions play in our customers’ product development initiatives and the strength of the underlying foundation of our business, I am confident in our ability to execute on our short- and long-term objectives,” stated Ajei Gopal, Ansys president and CEO.
Nicole Anasenes, Ansys CFO, stated, “Our ability to deliver double-digit ACV constant currency growth in Q3, despite the disruption from changes required for export compliance, is a testament to the resilience of our business model. Our highly recurring business model, significant base of renewal business, market-leading simulation portfolio and deep customer relationships create a strong financial foundation and contribute to unwavering demand for our product. Despite the disruption in Q3, our results year-to-date are strong with ACV growth of 12% in constant currency. With our double-digit performance year-to-date and the continued strong pipeline and momentum in our business, we are confident in our ability to achieve our short- and long-term guidance.”
A complete chart of the financial results is available here.
About Ansys
When visionary companies need to know how their world-changing ideas will perform, they close the gap between design and reality with Ansys simulation. Founded in 1970, Ansys is headquartered south of Pittsburgh, PA, USA. For more than 50 years, Ansys software has enabled innovators across industries to push boundaries by using the predictive power of simulation. From sustainable transportation to advanced semiconductors, from satellite systems to life-saving medical devices, the next great leaps in human advancement will be powered by Ansys.
Visit www.ansys.com for more information.